Despite foreign selling, a bullish trend continued on Pakistan Stock Exchange on the back of healthy buying, mainly by local investors. BRIndex100 gained 65.49 points or 1.47 percent to close at 4,527.64 points on Friday. BRIndex100 touched intraday high of 4,537.69 and intraday low of 4,448.92 points. Total volumes stood at 231.094 million shares.
BRIndex30 increased by 304.05 points or 1.36 percent to 22,631.83 points with a turnover of 176.636 million shares. The benchmark KSE-100 surged by 529.82 points to 42,087.89 points. Trading activity on the ready counter also improved as daily volumes increased to 261.229 million shares as compared to 232.172 million shares traded Thursday.
Foreign investors remained net sellers of shares worth $5.3 million. The market capitalization increased by Rs 79 billion to Rs 8.619 trillion. Out of total 386 active scrips, 270 closed in positive, 99 in negative while the value of 17 stocks remained unchanged.
Engro Polymer was the volume leader with 20.715 million shares. It increased by Rs 1.01 to close at Rs 36.99 followed by Azgard Nine that gained Re 1.00 to close at Rs 13.83 with 17.646 million shares.
Colgate Palmolive and Sanofi-Aventis were the top gainers with Rs 75.00 and Rs 70.44, respectively to close at Rs 2,225.00 and Rs 1,623.81. Nestle Pakistan and Sapphire Fiber were the top losers with Rs 145.37 and Rs 44.39, respectively to close at Rs 1,2425.00 and Rs 843.52.
BR Commercial Banks Index increased by 101.72 points or 1.27 percent to close at 8,130.84 points with total turnover of 14.369 million shares. BR Cement Index gained 58.47 points or 1.06 percent to close at 5,597.37 points with 22.824 million shares. BR Oil and Gas Index closed at 5,079.17 points, up 66.14 points or 1.32 percent with total turnover of 18.895 million shares.
BR Tech. & Comm. Index gained 26.78 points or 2.29 percent to close at 1,196.62 points with 22.740 million shares. BR Power Generation and Distribution Index closed at 6,658.98, up 43.52 points or 0.66 percent with total turnover of 13.498 million shares.
An analyst at Arif Habib Limited said that the local stock market closed at 42,088 points, up by 530 points or 1.3 percent. KSE-100 made an intraday high of 42,156 points given improved investor sentiment across the board along with attractive valuations and sufficient liquidity available with local investors. Contribution to the index came from Commercial Bank (plus 130 points), Oil & Gas Marketing Companies (plus 73 points), Fertiliser (plus 69 points), Cement (plus 56 points),
and Oil & Gas Exploration Companies (plus 42 points). Rally in the Commercial Banks was led by HBL (up 39 points) while MCB, SNGP, HUBC and PPL contributed plus 36 points, plus 34 points, plus 33 points and plus 27 points, respectively. On the other hand, scrip's that posted a negative contribution remained POL (down 11 points), NESTLE (down 7 points), NBP (down 5 points), PSMC (down 5 points) and AICL (down 4 points).
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